Trexquant Investment LP Decreases Stake in Rocket Companies, Inc. (NYSE:RKT)

Trexquant Investment LP lessened its holdings in shares of Rocket Companies, Inc. (NYSE:RKT - Free Report) by 83.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,225 shares of the company's stock after selling 92,392 shares during the quarter. Trexquant Investment LP's holdings in Rocket Companies were worth $205,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RKT. KBC Group NV lifted its stake in shares of Rocket Companies by 58.1% during the 4th quarter. KBC Group NV now owns 6,056 shares of the company's stock valued at $68,000 after buying an additional 2,226 shares in the last quarter. Caisse Des Depots ET Consignations bought a new position in shares of Rocket Companies in the fourth quarter worth $99,000. SBI Securities Co. Ltd. purchased a new position in shares of Rocket Companies in the fourth quarter valued at $135,000. Daiwa Securities Group Inc. bought a new stake in shares of Rocket Companies during the 4th quarter valued at $136,000. Finally, Proficio Capital Partners LLC purchased a new stake in Rocket Companies during the 4th quarter worth about $154,000. Hedge funds and other institutional investors own 4.59% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $18.00 price target on shares of Rocket Companies in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft raised shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 target price on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price target on shares of Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price target on shares of Rocket Companies from $14.00 to $10.50 and set an "underweight" rating on the stock in a report on Tuesday, January 14th. Finally, Wedbush reissued an "outperform" rating and set a $13.00 price objective on shares of Rocket Companies in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Rocket Companies presently has a consensus rating of "Hold" and a consensus target price of $14.38.

Rocket Companies Price Performance

Shares of NYSE RKT traded down $0.17 during trading hours on Friday, reaching $12.08. 6,654,375 shares of the stock traded hands, compared to its average volume of 4,566,064. Rocket Companies, Inc. has a 52-week low of $10.06 and a 52-week high of $21.38. The company has a quick ratio of 15.47, a current ratio of 15.47 and a debt-to-equity ratio of 1.51. The company's 50-day simple moving average is $13.48 and its two-hundred day simple moving average is $13.67. The company has a market capitalization of $24.11 billion, a P/E ratio of -75.49 and a beta of 2.35.

Rocket Companies Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were paid a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio (DPR) is 801.25%.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.